Question

Morgan bought a sofa for $216.00. The finance charge was $25 and she paid for it over 15 months.

Use the formula Approximate APR =(Finance Charge÷#Months)(12)Amount Financed

to calculate her approximate APR.

Round the answer to the nearest tenth.

9.4%
9.3%
1.2%
1.1%

Answer 1

9.3%

Explanation:

Took the test, so i checked the answers and the correct one was 9.3% have a beautiful day